Is Spoon SAFU?
Lets see what experts A.K.A CoreCryptoChain have to say.
As we move forward to our presale, a lot of questions and a lot of doubts might rise, but we are here to make our users fearless and confident in Spoon Exchange.
On 17th March 2023, we had our first Official Social Media Partner @CoinChainCrypto with soul aim to reach out more to Core community Members and educate them with their massive community of 527.5K (according to twitter)
On 6th April 2023, they sent their report on Spoon Exchange Project and Team made via their Experts Reviewers, which is as follows:
The innovative introduction of Automated market maker and liquidity pools birth a New horizon for Decentralized assets interaction. Centralization Concepts, features and relevance are gradually migrated to Decentralized ecosystem.
Introduction of Blockchain technology ushering in a System of open source model, DEFI produced a leverage for experienced and inexperienced developers. Anyone can now Create or replicate another existing protocol placing undeniable advantage on New Developers Forking existing projects.
However, Over the years multiple projects have emerged as forks of different Network without being able to outperform the original Network as seen in Bitcoin and Bitcoin SV or Bitcoin Cash. Community have shown to be the strength of any network. The psychology of Network users or Maxis have proven to be the strong hold for such Network.
Users can now choose between the original or the forked modified Version based on their psychology, user experience and investment capacity.
Decentralized exchange provides Decentralized services with Zero Asset Control, However, we have seen some pitfalls in recent times.
Spoon exchange poses to be a Decentralized protocol providing asset Interactions With lower transaction fees or reduced cost adopting a ve(3,3) DEX model with different User experience on Core Blockchain.
Spoon exchange onboarding Core Chain sets it on a path to a bright future.
Details of Spoon exchange:
1. The exchange provides Decentralized services in a more engaging format.
2. Spoon Exchange is another Community driven project with a 100% transaction fees reward distribution to vePOON holders ( 100% has the ability to usher in series of tycoon on Core Chain with a massive interest and involvement from Communities and undeniable demand for $poon/vePoon. A direct attachment with transaction fees is a direct call to owning Shares.
3. Spoon exchange leverages on Andre — style introducing the Use of two liquidity pools (Volatile and Stable pools) to enhance efficiency and reduce impact of slippage on TVL and asset receivable. Volatile assets/pools attracts higher fees than less Volatile or stable pools, These has the ability to attract Community engagement.
4. $Poon will adopt a fee structure requiring more fees payment for engaging $poon liquidity pools. These approach is not new as seen in Archers HUNT, It Creates room for sustainability and also gives $Poon Developers a reason to keep $Poon tradable on Dex as Defi has seen more demand and engagement in recent times.
5. Spoon exchange allows Users decide allocation of resources or rewards in $poon through a Voting method, a Voting emission mechanism and a time frame or Epoch (a week ), Voting and reward allocation are renewed after Epoch/Expected number of Blocks has been achieved. ( These method creates Competitive advantage, active Community engagement and allows Community determine rewards without the need for a pool *multiplier*) as seen on other DEX
6. In recent times, we have So much deliberated on Blockchain technology with little emphasis on Blockchain and politics as where ever people are found, politicking is just around the corner.
Spoon Exchange has Created a model that incorporates the idea of Blockchain and politics Using it “Bribery Model” to create a user to user/protocol to user inducement towards allocating votes to specific pools, These model Creates more value on Votes and enhances Decentralization, it also provides a Counter solution to reduce impact of bribes abuse.
7. Spoon exchange Bribery model takes into account the relationship of Dex performance and liquidity provision by Bribing liquidity stakers to keep the Liquidity in the system using Gauge Bribe (protocol driven) model. If these model will provide a step forward to solving DEX Liquidity issues, only time will tell as it is not an assurance. We expect more Guage Birbe emission or consideration than Vote consideration as liquidity providers won’t be earning transaction fees.
8 Spoon exchange Vesting protocol/Management gives users flexibility towards assets Security, enables long-term goals and strengthens the holders/investors community to allow for growth of projects, Ve NFT Management at the top of it game.
9 Judging from the white paper, Without an atom of doubt, Spoon Team members came prepared with a detailed one stop Decentralized solution reflecting the efforts and commitment put into the project. The team members have an integrity to protect, we will be watching.
10 vePOON ERC 721 token has been utilized efficiently on the project with it direct attachment to Bribe model participation and reward allocation through Votes, allowing Users grow interest in locking up their $poon and earning more vePOON to determine the direction of the projects. These is an intelligent approach to manage inflation, keeping the funds in the ecosystem and promoting user engagement. These is like a Rollercoaster Structure with a secured fund/reward structure built on top of the best web 3.0 chain (CORE) backed with Bitcoins POW
11 Governance belongs to the Users as the models reflects or exhibit Decentralized Governance. It is expected that every $poon/vePoon holder can participate in Decision making including Charges.
12 The project has a 80% Decentralized prospect with an ability of reducing to 75% or 65% on the long run.
13 No Burn events ( Every project don’t necessarily need a burn event especially with one whose direct attachment is linked with 100% transaction fees. Any burn event will be Creating rapid value for Spoon which the Utilities on ground already catered for. Hopefully in the future we might see a burn event should the need arise. Form inception every thing should be fine.
Tokenomics overview:
Spoon exchange will be hitting the Core ecosystem with a different scaling DEX solution never seen on the Core chain and beyond.
The tokenomics suits the projects owing to it community driven ecosystem.Details:
The project allocates a portion for Grants which serves as an indirect allocation for partnerships, marketing, contributors as they are all components that scales and promote Spoon exchange, Grant can equally be used to promote Spoon exchange directly by providing aid to other projects and indirectly attracting communities to Spoon exchange.Team allocation is fair, however, we consider it to be above 10% which is of concern. We will be compelled to believe Team allocation can truely provide the sustainability and commitment from Team members needed for spoon ecosystem to thrive in coming years as seen in the white paper.
Additional information:
In a Bid to enhance $poon Usecase and value, $poon team also takes Into account liquidity providers without interest of farming, hence there are provisions for earning transaction fees.
Vesting plays a huge role in Spoon success.
Smart contracts will require sufficient examination beyond Bug Bounty before deployment, the functionalities requires zero tolerance on bugs.
$poon is at the Center of it all. Value and Scarcity is assured.
Archero ( CEO Archerswap is renowned for he’s works on Core Chain ), as an adviser, Spoon exchange will sail beyond expectations.
We advise a double check and efficient Smart contract review as the functionalities are sensitive and open to engagement.
Great work and commitment.
As you can see, great set of compliments are provide to our team and Spoon Exchange project.
We have noted a few points and we will be providing community and experts with an AUDIT done by a reliable team on Spoon Exchange before launch.
Also Expect some AMA and Educative stuff along with Core Team support for Spoon Exchange.
Resources:
Website: https://spoon.exchange/
Twitter: https://twitter.com/SpoonExchange
Discord: https://discord.gg/spoonexchange
